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Member Insight - The Habit Advantage
Most of the tasks we individually perform every day are done on auto-pilot, using habits we’ve developed over the course of our lives. Habits free our mind to think and focus on planning to be more effective and efficient, doing work, or just enjoying life.
What if we applied habit theory to a group of people, like a work team? What if groups of 3, 30, 300 or more, in a coordinated effort, developed important habits that could improve the customer experience and help the company operate more efficiently? How much additional value could they add? As a team, how much more could these individuals accomplish beyond just the sum of their efforts? What kind of an advantage would this give a company over its competition?
You can adopt the power of habits in your organization, no matter how big or small.
Almost anyone can think of a habit, a task, or process that if their work team mastered, would give the team a clear advantage over the competition.
To be successful, you’ll want to design your habit development process around these key aspects of work team habit development:
- Select the right objective that will create the most value for your customers.
- To facilitate understanding and commitment, team members must be knowledgeable about habit development principles.
- A group of team members must be deeply involved in designing the habit development plan.
- Set specific goals and milestones.
- Make sure the team defines a specific cue.
- Expect to make a small investment in rewards.
- Be obsessive about tracking habit performance.
- Be ready to have uncomfortable conversations.
- Be very particular and picky.
- The management team must be fully committed and lead the way, always coaching from a place of good intentions.
If your habit development plan covers all these elements, your chances of success are extremely high.
ABOUT
Throughout his 30 year career, author Kyle Havill has gained valuable experience working for four Fortune 500 companies. He has led teams of 200+ employees, and worked with them to continually seek ways to improve the customer and client experience and increase team efficiency.
His fascination with habit theory and his realization that no other books to date have addressed leveraging habits to build work team success led to the creation of his newest book, How to Build Work Team Habits: Improve Your Customer Experience, Increase Efficiency, and Enjoy Better Business Results.
Let’s talk about it.
"Let's talk about it" is where we look at business issues and share ideas. If you want to talk about it, email me at Michael@FactorianLLC.com
Profit Plannning
Do you plan for profit? Probably not. Planning for profit requires an intimate understanding of your profit drivers and how they relate to, and define your business model. If you don't understand your business model, cost structure, or your customers' behavior, your business is on life support.
The profit drivers determine how much profit is impacted based on the decisions you make. Where do you focus your activities, time and investment dollars to control, and then maximize your profit?
If you aren't sure then you must perform sensitivity analysis using the controlled profit equation. Understanding this will straighten the course for you to achieve your profit goals.
We will address the profit drivers in future posts to provide an intimate understanding of what each one is, and how it impacts your profit profile. Join and watch the Delta Profit Equation to learn more. See you on the inside.